The Effects of Delays on the Stability and Rate of Convergence to Equilibrium of Oligopolies

Allen M. Russell, John A. Rickard and T.D. Howroyd

The Economic Record, 1986, vol. 62, issue 2, 194-198

Abstract: The stability of oligopolies is investigated using the Cournot strategy and a general output adjustment procedure. Information delays are incorporated in the adjustment procedure and their specific effects upon the dynamic stability of oligopolies is investigated. The stability of equilibrium for discrete models is unaffected by information delays and remoteness of planning horizons; however the rate of convergence to equilibrium may be slowed. For continuous models with delays, some restraints are required for stability.

Date: 1986
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